Bitcoin Collapse Now Under Way… Ponzi Scheme Unraveling

Posted by on July 17, 2017 11:32 am
Categories: Uncategorized

In case you have not been paying attention to the world of crypto currency, Bitcoin has now collapsed almost 40% from its high, plunging from $3,000 to nearly $1,800 in anticipation of the “Bitcoin civil war” that’s rapidly approaching.

The Bitcoin promoters telling you that you can’t trust the dollar because it’s fiat currency usually fail to inform you that Bitcoin is a crypto fiat currency, backed by nothing. In fact, one of the “fixes” being discussed by the Bitcoin community right now would result in lifting the limit of 21 million Bitcoins, allowing potentially unlimited future Bitcoins to flood the marketplace, thereby devaluing presently-held Bitcoins. Quantitative easing, it seems, isn’t just for central banks…

One response to Bitcoin Collapse Now Under Way… Ponzi Scheme Unraveling

  1. victor K. hundt July 18th, 2017 at 11:54 am

    You are correct U.S. currency is fiat currency. Bitcoin is even worse. The bitcoin was hatched by organized crime in an effort to make it harder to trace money transactions. That is why you may have noticed that scammers ask to be paid in Bitcoin especially if they are outside the U.S. A typical example is when someone in Asia gets control of your computer and promises to release it if you pay them in Bitcoin which is impossible to trace. Don’t ever fall for it. Turn your computer completely off for a few days. This often works.


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